MacroGenics, Inc. (NASDAQ:MGNX) had its target price hoisted by Citigroup Inc. from $18.00 to $22.00 in a research report sent to investors on Friday morning. They currently have a neutral rating on the biopharmaceutical company’s stock.
Several other research firms also recently commented on MGNX. Zacks Investment Research raised shares of MacroGenics from a sell rating to a hold rating in a report on Tuesday, October 10th. Cowen and Company reaffirmed a buy rating on shares of MacroGenics in a research note on Wednesday, October 25th. Wedbush reaffirmed an outperform rating and set a $44.00 price target on shares of MacroGenics in a research note on Monday, September 11th. BidaskClub downgraded shares of MacroGenics from a sell rating to a strong sell rating in a research note on Saturday, August 12th. Finally, Morgan Stanley decreased their price target on shares of MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $30.10.
MacroGenics (NASDAQ MGNX) traded up $1.06 during mid-day trading on Friday, hitting $18.68. 285,600 shares of the stock traded hands, compared to its average volume of 261,654. MacroGenics has a 1 year low of $14.36 and a 1 year high of $31.85.
MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $5.50 million. During the same period last year, the firm posted ($0.97) EPS. MacroGenics’s quarterly revenue was down 48.5% compared to the same quarter last year. research analysts expect that MacroGenics will post -2.34 EPS for the current fiscal year.
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In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in MacroGenics during the second quarter valued at $133,000. Legal & General Group Plc increased its position in MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of MacroGenics in the second quarter worth about $203,000. Finally, Virtu KCG Holdings LLC bought a new position in shares of MacroGenics in the second quarter worth about $232,000. Institutional investors and hedge funds own 84.72% of the company’s stock.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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